Startup Funding, Acquisitions, and Liquidity Trends

This week saw a flurry of activity in the startup world, with several acquisitions, diverse funding rounds, and unique approaches to liquidity.

Acquisitions Heat Up

Several notable acquisitions took place this week. Employer.com acquired fintech startup Mainstreet.com. Datadog continued its acquisition spree, purchasing feature-flagging platform Eppo shortly after acquiring AI observability startup Metaplane. ServiceNow acquired Data.World, a data catalog and governance platform, just two months after buying Moveworks. Carta acquired SimpleClosure, a startup focused on simplifying company shutdowns.

Funding Rounds Across Diverse Sectors

Funding rounds spanned various sectors. NewLimit, a longevity startup founded by Coinbase CEO Brian Armstrong, secured a $130 million Series B. Finom, a European neobank for SMBs, raised approximately $105 million. Orca AI, an autonomous navigation platform for shipping, raised a $72.5 million Series A. Other notable rounds include Ox Security ($60 million Series B), Recraft ($30 million Series B), Blinq ($25 million Series A), WisdomAI ($23 million seed), Breathe Battery Technologies ($21 million Series B), and Unblocked ($20 million Series A).

Exploring Liquidity Options

Beyond traditional IPOs and acquisitions, startups explored alternative liquidity strategies. Sales automation startup Clay allowed eligible employees to sell shares to existing backer Sequoia, valuing the company at $1.5 billion. This offers a unique approach to employee compensation and liquidity.

Other Notable Developments

  • General Fusion conducted layoffs despite reaching a key milestone, citing funding shortages.
  • 11x CEO Hasan Sukkar stepped down, replaced by CTO Prabhav Jain, following customer retention challenges.
  • Investors considered a $30 million investment in BluSmart, contingent on the co-founder's resignation.

Greek Tech Scene Gains Momentum

Marathon Venture Capital, an Athens-based VC firm, closed a new fund with approximately $84 million. This highlights the growing Greek tech ecosystem and its potential to serve global markets. Learn more about the Greek tech boom and Marathon Venture Capital.